USDA WASDE 8-12-24

Below are snap numbers along with state level numbers.

As we all know USDA increased Yield on both corn and beans.  Corn saw a decrease in acres as expected with the decrease going to beans plus some acres (likely from the North.)

It was nice to see an increase in exports for corn to the tune of 75 mil for the 24/25 crop year: helping overall 24/25 ending stocks to similar report levels to a small decline.

Overall, a neutral to supportive report for corn.

Beans on the other hand saw a negative report.

With increases on yield, acres, and no real increase in demand from previous reports (the 135 mil increase in crush for next year already calculated in) will have a tough go in the near term until more likely export demand can be found by end users as we continue to make new lows this morning.

Cotton saw a pretty friendly report with US Acreage and production revised lower. In turn 24/25 Ending Stocks are now projected down 800k - 480 lb bales. Cotton spiked to just under $.71 cents / lb.